NORTHERN TABLELANDS HOMEBUYERS SAVING MILLIONS IN STAMP DUTY

Monday, 19 February 2018

 FIRST-TIME homeowners in the Northern Tablelands have saved millions of dollars on the purchase of their first home, thanks to housing affordability reforms included in the 2017-18 NSW Budget, Northern Tablelands MP Adam Marshall said today.

 

Since the changes were rolled out in July last year, more than 19,000 first-time buyers have taken advantage of the housing affordability measure across the State.

 

In the Northern Tablelands, Mr Marshall said 323 people had purchased homes using these exemptions in the last six months, saving around $14,000 on each purchase.

 

“This scheme has potentially put more than $4.5 million back into the pockets of local first home buyers in our region,” Mr Marshall said.

 

“That’s a huge amount of money saved in just the first six months and helps make it easier than ever for young people to make the leap into home ownership.

 

“Housing affordability is a major issue across the state so it is heartening to see that this package is allowing people in the Northern Tablelands to take that first step to securing the keys to their new home.”

 

Mr Marshall encouraged renters to consider the prospect of owning their home, even if they had previously considered it out of their reach.

 

“Hundreds of people have already taken advantage of this scheme and I’d urge anyone in the Northern Tablelands to strongly consider raising the paddle at auction on their first home.

 

“Home ownership is a major step towards financial independence, particularly for the young people who currently rent or live with extended family.

 

“While raising property prices in Sydney make home ownership an impossible aim for many, affordable housing is still accessible in our region, which is one of the reasons that the Tablelands is an excellent place to live, work and invest.

 

“The government is focused on cutting the costs of living, whether that’s the price of your child’s weekend sport through the active kids rebate, the energy rebate to help put downward pressure on energy bills or green slip relief.”

 

 

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